Buyers can choose between a traditional house (villa) or a condominium (apartment) when purchasing a home in Pattaya. Whether it’s a second home, weekend break abode, retirement house or investment property, there are a lot of tough decisions that go into deciding what to buy.
Homeowners purchase the house and the land (or in the case of expats, lease) it sits on. In contrast, condo ownership includes only the living space inside the condo unit and access to common areas of the condo building (for which they pay annual maintenance fees).
Your lifestyle and budget are the best means of determining whether a multi-bedroom family home or a single-bed condo is a more suitable dwelling for your needs. So, without further ado, let’s look at the pros and cons of buying a house versus a beachfront condo for sale in Pattaya. There are considerable advantages and disadvantages to both types of housing, and we’re going to help you understand both and make the right purchasing decision.
Due to a resurgence in the appeal of urban and minimalist living, condos have become more and more popular in the last few years. The beauty of downtown or beach side condo living is that they are usually located close to nearby shops, restaurants, theatres, parks, beaches, etc. Meaning residents are afforded an easy-breezy and walkable existence. Many also come with resort-level amenities, such as large swimming pools and gardens, state-of-the-art gymnasiums, and public use areas like libraries, clubhouses, games rooms and co-working spaces. Because of their convenience and low-maintenance style, condo living is an attractive offering for retirees and busy professionals. As building management will take care of all the exterior upkeep, you only have to worry about maintaining the inside of your dwelling.
Although many people enjoy the safety and sense of community that comes with a condominium living, at the same time, some owners don’t like the rules and restrictions associated with them. For example, one major drawback to condo living is “association fees”. These are collected outside the monthly mortgage payment and used toward building amenities and maintenance. The costs can be expensive, and they can increase when extra money is required for ad hoc maintenance or emergency repair work. There is sometimes an additional fee for pool and gym access too. Make sure you know what these are before signing on the dotted line. Another con is that all homeowners share in the decision-making process, whenever action is required in the condo building, for example repaving the driveway or upgrading the kids playroom.
A significant advantage to owning a house is that you have total control over the property, you can make any change or remodeling you like, and you don’t have to get the approval of anyone (excluding local government planning permission for major works).
Another advantage over condo living is that it affords considerably more indoor and outdoor space, which, if you come as a package deal with a spouse, children and/or pets, is a good thing! Houses also offer more privacy and noise control as you’re not literally residing above, below and beside other people in their units. And lastly, especially for people who like to hoard or keep a lot of things, houses offer the luxury of ample storage space, be it closets, attics, basements, sheds, maid rooms, etc.
Believe it or not, home ownership does come with some considerable drawbacks as well. For starters, a homeowner is entirely responsible for all maintenance inside and outside the property, including upkeep of the front and back yards. In a sunny, hot climate like Thailand, this will mean things like repainting the exterior routinely and caring for the fast-growing garden weekly.
As such, keep in mind that you’ll need to purchase specialist equipment to maintain your home or outsource the work to a contractor. Any improvements you make to the house will certainly increase its resale value, but they require the costly investment of both time and money. One final point, bear in mind that all that added space comes at a premium, your utility bills (water, electricity, etc.) will likely be higher than those at a condo.